the european economy is trying to become more stable. we are not seeing growth, but it is not as bad as five months ago. the u.s. is starting to fire on all filters. >> it is doing much better. there has been positive growth for some time. i think that is due early to the fact that the fiscal stimulus has continued. it is now being cut off. but these programs did run on because of the way that congress and the treasury interact. secondly, i think they're monetary policy has been more effective. ir monetary policy has been more effective. what is starting to happen, there is being investment -- what is starting to happen, there is starting to be an investment boom. i am thinking of shale gas. a sharp decline in energy prices. that does help consumption. as well as investment. and companies. both of these components are actually going to be stimulated. where is and in europe, companies are still sitting on piles of cash. profits are up, they don't know what to invest in. >> what is your biggest concern for 2014? we went through a couple th